Nepal is the only Indian nation with discipline and morale and infantry CA and manpower recovery speed and are the only nation in the game with +1 leader siege. Their only 'weak' NI is fort defense.
Pick any other Indian start, all of them have at least two or three junk NIs. The only marginal thing about Nepal is their piss poor start.
I'd still rather have sultanate, Mughal, or Bengali/Bahmani ideas. Nepal gets lots of small bonuses to combat. Siege is nice but you can only run 1-3 generals so it'll speed up a carpet via finish + reinforce other sieges but not tremendously (and won't speed up assaults whatsoever). Leader fire is +2 pips for combat purposes basically, and Rajput gets that/discipline/combat ability/manpower recoverty too, just not morale.
For SP purposes, I'd prefer the easy heathen tolerance though. For MP purposes, I'd prefer a start position that isn't complete trash in terms of progression speed. That leaves Nepal a pretty-tough roleplay start, especially considering the limited access to alliances and that your poor tech group means it'll be many years until you see all those military benefits, 100+ for quite a few of them.
Nepal is more a challenge game with poor man's combat stat distribution that won't let you mop the floor while massively outnumbered but will help considerably. For the OP's very general question, they don't even make the top 10 nations that can begin the game able to form Hindustan (Vijay, Malwa, Bahmanis, Bengal, Jaunpur, Orissa, Gujurat, Mewar, Delhi, even Sind have more favorable positions). It's easier than crap like Kangra, Garjat, Khandesh, Jangladesh, Nagaur, and Jaisalmer though. Jangladesh is probably the worst of the bunch.